IREN Limited $IREN Shares Sold by Vontobel Holding Ltd.

Vontobel Holding Ltd. trimmed its position in IREN Limited (NASDAQ:IREN) by 68.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,600 shares of the company’s stock after selling 26,764 shares during the quarter. Vontobel Holding Ltd.’s holdings in IREN were worth $591,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in IREN. Quarry LP acquired a new stake in IREN during the first quarter worth $40,000. Advisors Asset Management Inc. increased its position in shares of IREN by 68.4% during the 2nd quarter. Advisors Asset Management Inc. now owns 4,528 shares of the company’s stock worth $66,000 after purchasing an additional 1,839 shares during the last quarter. Wellington Management Group LLP increased its position in shares of IREN by 11.7% during the 1st quarter. Wellington Management Group LLP now owns 13,212 shares of the company’s stock worth $80,000 after purchasing an additional 1,387 shares during the last quarter. PharVision Advisers LLC purchased a new stake in IREN in the 1st quarter valued at about $126,000. Finally, SLT Holdings LLC acquired a new position in IREN in the second quarter valued at about $146,000. Institutional investors and hedge funds own 41.08% of the company’s stock.

IREN Stock Down 4.0%

IREN stock opened at $40.30 on Monday. IREN Limited has a twelve month low of $5.13 and a twelve month high of $76.87. The stock’s fifty day simple moving average is $50.09 and its 200-day simple moving average is $35.35. The company has a current ratio of 5.52, a quick ratio of 5.52 and a debt-to-equity ratio of 0.34. The firm has a market capitalization of $11.42 billion, a P/E ratio of 20.77 and a beta of 4.23.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Compass Point reiterated a “buy” rating and set a $105.00 price target on shares of IREN in a research report on Friday, November 7th. Canaccord Genuity Group boosted their target price on IREN from $42.00 to $70.00 and gave the company a “buy” rating in a research report on Monday, November 10th. Weiss Ratings restated a “hold (c)” rating on shares of IREN in a research report on Monday, December 15th. JMP Securities set a $80.00 price objective on IREN in a report on Wednesday, November 19th. Finally, Wall Street Zen lowered IREN from a “hold” rating to a “sell” rating in a research note on Monday, December 22nd. Twelve research analysts have rated the stock with a Buy rating, five have assigned a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, IREN currently has an average rating of “Moderate Buy” and a consensus price target of $67.64.

IREN Profile

IREN Limited, formerly known as Iris Energy Limited, owns and operates bitcoin mining data centers. The company was incorporated in 2018 and is headquartered in Sydney, Australia.